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Author Topic: [ANN][UDD] Universal Digital Dollar - No fee transactions that pay you  (Read 285 times)
UDD_Coin
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January 07, 2018, 07:09:18 AM
 #1

Hi. We're proud to announce the Universal Digital Dollar (UDD). It offers no fee transactions that pay you!

Quick Links

Quick Stats
  • Name: Universal Digital Dollar
  • Code: UDD
  • Symbol: $
  • Precision: 9
  • Smallest Unit: nano-cent
  • Validation Model: Tangle (24 hours long) saved to Blockchain (hourly, PoS/PoW hybrid)
  • Total Supply: 210,000,000 UDD
  • Mining Required: No
  • Economic Model: Inflationary (at 2% of total supply per year)
  • ICO Start: Feb 1, 2018
  • Exchange Rate: 1 UDD = 0.02 ETH

Key Features
  • No fee transactions
  • Buyers, sellers, and validators are paid for making transactions
  • Buyers can optionally reward charities and governments at no cost to themselves
  • Anonymous, public, or verified profiles
  • Adaptive validation levels
  • Sellers specify profile types and validation levels for each item
  • Marketplace with REST API for items sold in UDD
  • Multiple methods of payment
  • Trust model and user rating system
  • Incentives and active sales team to encourage vendors (big and small), employers, non-profits, and governments to participate in a well-rounded economy
  • Proof-of-stake funds double as lending pool
  • Automated loan system with credit ratings and default recovery

How can we offer offers no fee transactions that pay you?
Short answer: Inflation gets converted to fair rewards for all.

Long answer: Inflation is calculated yearly and divided into daily chunks. The daily inflation is split into different channels to pay:
  • 30% to buyers and sellers for making transactions
  • 50% to validators for validating transactions
  • 10% to charities and governments for opt-in donations by buyers
  • 10% to pay back loan defaults

At the end of each day, the funds for each channel are distributed based on:
  • the number and value of transactions for each buyer and seller
  • the number of validations by each validator
  • the number of donations to each charity
  • the share of defaulted loan amounts
  • caps on some channels to prevent one user from hogging all the funds

For more details, please review the whitepaper or feel free to ask any questions here. Check back on the website or this thread for updates. Thanks.

-- The UDD team
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January 07, 2018, 10:07:39 AM
 #2

How do you stop chain spam without fee?

Notable projects: Bitcoin, Ethereum, Semux, Dero,Wagerr, Elastic, TenX, Ardor, Quantum, Sia Storage
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January 07, 2018, 10:16:52 AM
 #3

Fucking Stupid Name.

SCAM ICO

 Roll Eyes

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bitblaster
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January 08, 2018, 07:17:25 AM
 #4

very interesting plan. I believe tangle and DAG is the future, as it scales better than blockchain. looking forward to this project and will follow  Cool

-bitblaster

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January 20, 2018, 05:32:25 AM
 #5

Is there any github for this coin? The website does not provide enough information for the public.

Who are the developer team?

-bitblaster

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January 21, 2018, 10:46:10 PM
 #6

Sounds very tempting, especially the fact that there are no fees for transactions and you can create anonymous accounts. Can I find out about specific payment methods? Do you plan to supplement their list?

UDD_Coin
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January 28, 2018, 07:09:02 AM
 #7

How do you stop chain spam without fee?

There will be algorithms to detect malicious activity. The trust model will play a key role in separating the bad actors. There are both externally visible elements of the trust system that buyers and sellers can manually influence, and internal elements which are managed automatically by the system.

very interesting plan. I believe tangle and DAG is the future, as it scales better than blockchain. looking forward to this project and will follow  Cool

Agreed. Tangle/DAG and blockchain both have their strengths and weaknesses. Our thought is tangle is a better fit for the initial validation of a transaction where speed matters most. Blockchain is better securing the long-term record management.

Thanks for your support. Constructive feedback is highly appreciated, especially at the early stages.

Is there any github for this coin? The website does not provide enough information for the public.

Who are the developer team?

The site is more of a landing page at the moment. We'll be fleshing out more sections over Q1 2018. The whitepaper is the best source of detailed information on the project at this point. Note that we're switching up the ICO approach a bit. It made more sense to get interest from businesses first, so that consumers actually have places to spend the coin. The next revision of the whitepaper will capture this.

No github yet. We're at the very early design stages now. Once we have confidence on initial market viability, we'll engage more resources to development.

Sounds very tempting, especially the fact that there are no fees for transactions and you can create anonymous accounts. Can I find out about specific payment methods? Do you plan to supplement their list?

It goes beyond no fees. Buyers, sellers, and validators are all rewarded daily based on their participation level. The whitepaper (http://uddcoin.com/file/UDD_Whitepaper.pdf) provides some detail on methodology.

The team is currently pursuing payment service providers and selected merchants. We'd love to get the likes of Expedia and Overstock (who already accept Bitcoin) to be interested in our coin. The goal is to get as many local businesses, online retailers, franchises, etc. on board as possible. This way, ordinary people have more options for actually using the coin.
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March 29, 2018, 08:06:13 PM
 #8

This tangle type coin is just a rip-off of IOTA, NANO or Byteball. All Tangle types have no fees. The days of cloning (copy and paste) code is long gone. Only the gullible will invest in ICO like this, sorry.
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